| What to watch today: Stocks to rise after Dow, S&P 500 had best month since November | | |  | THU, APR 01, 2021 | | | | AS OF THU, APR 01, 2021 • 08:36 ET | | Dow Jones Fut | | 32,981.55 | | Current: | 32,932.00 | | Change: | 34.00 | | Impl. Open: | 76.45 | | | S&P 500 Fut | | 3,972.89 | | Current: | 3,983.00 | | Change: | 15.50 | | Impl. Open: | 20.11 | | | NASDAQ 100 Fut | | 13,091.44 | | Current: | 13,242.00 | | Change: | 152.25 | | Impl. Open: | 164.56 | | | Russell 2000 Mini | | 2,220.52 | | Current: | 2,229.20 | | Change: | 6.70 | | Impl. Open: | 17.88 | | U.S. stock futures were starting April higher after the S&P 500 closed out its best month since November with a gain of 4.2%. The index hit an all-time intraday high Wednesday but failed to close at a record. (CNBC)
The Dow, which closed at a record Monday, saw its second modest decline in a row Wednesday. But the 30-stock average, like the S&P 500, had its best month since November, posting a March gain of 6.6%. For the first quarter, the Dow and the S&P 500 rose 7.8% and 5.8%, respectively, for their fourth positive quarter in a row. (CNBC)
The Nasdaq broke a two-session losing streak with a 1.5% gain Wednesday. The tech-heavy Nasdaq has recently been the underperformer as technology stocks are especially sensitive to rising market interest rates because they depend on borrowing money cheaply to invest in future growth. For March, the Nasdaq gained just 0.4%. For the quarter, it gained 2.8%. (CNBC) | | | | Pfizer (PFE) and BioNTech (BNTX) said Thursday their two-shot Covid vaccine is around 91% effective, citing updated trial data, which included people inoculated for up to six months. The vaccine was also 100% effective, among trial participants in South Africa, where a new variant is dominant. However, the number of those South Africa participants was relatively small at 800. (Reuters) | | | | Shares of Emergent BioSolutions (EBS) , the company at the center of problems that led Johnson & Johnson (JNJ) to discard an unknown amount of its Covid vaccine, dropped 7% in Thursday's premarket. According to records obtained by The Associated Press through the Freedom of Information Act, Emergent has had a string of citations from U.S. health officials for quality control problems. | | | | The FDA cleared Abbott Laboratories' (ABT) Covid-19 rapid antigen test for over-the-counter sales and use at home for people without current Covid symptoms. The retail price is still undetermined, but a company spokeswoman told Reuters the tests will be sold to retailers for less than $10 each. At the same time, the FDA also approved an at-home test for Covid-19 made by diagnostics company Quidel (QDEL). | | | | Shares of Funko (FNKO) surged in premarket trading Thursday after the pop culture collectible maker said it acquired a majority stake in TokenWave, putting it into the NFT, nonfungible token, market. | | | | Exxon Mobil (XOM) released data in a SEC filing that points to the possibility of the company's first profit in five quarters. Raymond James analyst Justin Jenkins said the data points to a profit of $2.55 billion, or 60 cents per share, with Exxon benefiting from higher oil and gas prices. | | | | Auto retailer CarMax (KMX) quarterly earnings of $1.27 per share, with revenue essentially in line with forecasts. CarMax also announced it would acquire the remaining part of Edmunds that it didn't already own, in a cash-and-stock deal valuing the auto information provider at $404 million. CarMax shares slid 3.5% in the premarket. | | | | Micron Technology (MU) reported quarterly profit of 98 cents per share, beating estimates. Revenue was slightly above Wall Street forecasts. The computer chip maker also issued an upbeat forecast. Separately, The Wall Street Journal reported Micron is exploring a deal for Kioxia that could value the Japanese chip maker at around $30 billion. Micron shares jumped 4.5% in the premarket. | | | | Taiwan Semiconductor (TSM) will invest $100 billion over the next three years to increase manufacturing capacity at its plants, in a move to deal with increased demand and a worldwide shortage of chips. Taiwan Semi rose 2.1% in the premarket. | | | | China-based electric vehicle maker Nio (NIO) said it delivered 7,257 vehicles in March, a 373% increase over the same month last year. Nio surged 5.8% in premarket trading. | | | | Sherwin-Williams' (SHW) 3-for-1 stock split, announced on March 2, is effective as of today. It's the first time the paint company has split its stock since 1997. Sherwin-Williams gained 1.2% in the premarket. | | | | FuboTV (FUBO), a live streaming sports TV platform, announced an agreement to carry all non-nationally televised Chicago Cubs games this season. FuboTV shares jumped 4.8% in the premarket. | | |
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